YIT - Decent quarter given low completions

YIT's net sales in Q3 amounted to EUR 402m (Evli/cons. EUR 417.9m/403m), declining clearly y/y given the low amount of consumer apartment completions. The adj. EBIT was a slight positive, amounting to EUR 12m (Evli/cons. EUR 10.3m/10.3m). Guidance range for Group adjusted operating profit for continuing operations adjusted to EUR 40-60m (prev. EUR 30-60m).

  • Revenue in Q3 was EUR 402m (EUR 453m in Q3/24), slightly below our estimate and in line with consensus (Evli/cons. EUR 417.9m/403m). Revenue declined 11% y/y.
  • The adj. operating profit in Q3 amounted to EUR 12m (EUR 26m in Q3/24), above our and consensus estimates (Evli/cons. EUR 10.3m/10.3m). 
  • EPS in Q3 amounted to EUR -0.05 (Evli/cons. EUR -0.02/-0.02)
  • The order book at the end of Q3 amounted to EUR 2,929m (EUR 2,961m in Q2/25), of which 75% was sold. 
  • Residential Finland: Revenue in Q3 was EUR 71m, (Evli: EUR 74m) and adj. EBIT EUR -1m (Evli: EUR 1.5m)
  • Residential CEE: Revenue in Q3 was EUR 50m, (Evli: EUR 63m) and adj. EBIT EUR 1m (Evli: EUR -1.3m)
  • Building Construction: Revenue in Q3 was EUR 161m, (Evli: EUR 175m) and adj. EBIT EUR 7m (Evli: EUR 4.9m)
  • Infrastructure: Revenue in Q3 was EUR 127m, (Evli: EUR 115m) and EBIT EUR 7m (Evli: EUR 5.2m)
  • Market outlook: short-term market outlook for infrastructure lifted to good (prev. normal) and stable (prev. improving)
  • YIT’s outlook for 2025 (specified): Group adjusted operating profit for continuing operations to be EUR 40-60m (prev. EUR 30-60m).
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